My husband and I are looking to buy a home in Southwark and are in fact using a Southwark conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Barclays have this afternoon contacted us to advise us that they have now hit a problem as our Southwark solicitor is not on their approved list of lawyers. Please explain?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Southwark lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Can the conveyancing lawyers that you recommend execute attended exchange conveyancing in Southwark?
We do have a number of conveyancing experts who can conduct one day exchanges. Please contact us to secure a costs illustration and details as to availability.
How up to date is your database of Southwark solicitors on the RBS conveyancing panel? Do RBS send you an updated list?
Southwark conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
Does a directory service exist listing Barclays panel solicitors in Southwark on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings available on the web. Where you are looking for a Southwark solicitor on the Barclays please make the most of our facility.
Can I be sure that the Southwark conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Southwark getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer conducting your transaction.
I am purchasing a property in Southwark. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
As your lender is Coventry BS your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Coventry BS where a lease does not comply with these requirements. The conditions relate to the installation of panels on properties nationwide and is not isolated to Southwark.
Do I need to be concerned that brokers that I am dealing with are encouraging me to use a web based conveyancing firm rather than a High Street Southwark conveyancing firm?
As is the case with lots of service providers, often recommendations from family and friends can be worth their weight in gold. But there are many players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may recommend conveyancers to retain. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but occasionally there exists a commercial relationship behind the endorsement. You have the discretion to appoint your preferred lawyer. Don't forget that the majority of mortgage providers specify a panel list of lawyers you must use for the lender aspect of your home move.